Maarten de Jeu is a Chicago-based businessman who specializes in international strategy and business development. He has worked for international firms based in Europe and the United States. He studied at Leiden University where he majored in public administration. He also earned a master’s degree in social science at this university. Additionally, he is a graduate of the Said Business School, University of Oxford. He founded SVM Business Advisory in 2012 where he helps corporations enter new markets around the world.
He advises businesses that launching an existing product in a new country isn’t nearly as simple as it sounds on paper. There are many factors involved that need to be carefully considered before a product is introduced to consumers. Maarten de Jeu says that two things to know are that expanding globally takes a lot of capital and time. If a company doesn’t have enough money to fund this expansion they need to either borrow capital or seek out new investors.
Maarten de Jeu says another thing to consider is a country’s rules and regulations surrounding products and business activities. Companies and products need to comply with a nation’s laws or else there can be huge consequences. He says it pays to hire a local attorney who specializes in product and corporate law.
Having a solid business plan is essential to the success of any company. This is especially true of companies that have become international in scope, Maarten de Jeu states. Without a business plan and organization, there won’t be any clarity about what the company is doing. A business plan states who a product’s buyers are, where they are, how to get raw materials, and other essentials. Standard business practices are a required part of strategic planning.
Maarten de Jue says that the suitability of a product in a new market needs to be examined before it is launched. This ensures there is enough demand for the product to justify introducing it. The suitability process also examines existing competition, if any, including what they price their product at. If consumers in another country already have access to a similar product at a lower price point they will not have any incentive to switch, after all. Learn more: https://about.me/maartendejeu
A company introducing a product into a new market needs to show they are committed to it. People aren’t likely to buy a product if they don’t know if it will be around and support for very long. One way of showing dedication to a country is by hiring people there. This will be perceived as being committed while transferring existing employees into the country won’t communicate dedication nearly as well.